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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COROMANDEL INTERNATIONAL LIMITED</name>
        <lei>335800U73K3HJSQKT249</lei>
        <title>COROMANDEL INTERNATIONAL LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE169A01031"/>
        </identifiers>
        <balance>6033.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>60292.03000000</valUSD>
        <pctVal>0.714936398338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soulbrain Holdings Co., Ltd.</name>
        <lei>N/A</lei>
        <title>SOULBRAIN HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7036830008"/>
        </identifiers>
        <balance>1183.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>94528.01000000</valUSD>
        <pctVal>1.120902961992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA ICECEK ANONIM SIRKETI</name>
        <lei>789000WT80VVLUWJDK41</lei>
        <title>COCA-COLA ICECEK AS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TRECOLA00011"/>
        </identifiers>
        <balance>8357.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="6.84350000"/>
        <valUSD>53210.83000000</valUSD>
        <pctVal>0.630968291378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISTA LAND &amp; LIFESCAPES, INC.</name>
        <lei>N/A</lei>
        <title>VISTA LAND &amp; LIFESCAPES INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PHY9382G1068"/>
        </identifiers>
        <balance>291100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PHP" exchangeRt="49.81500000"/>
        <valUSD>21629.17000000</valUSD>
        <pctVal>0.256476368416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;F CO.,Ltd</name>
        <lei>N/A</lei>
        <title>F&amp;F CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7007700008"/>
        </identifiers>
        <balance>686.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>52934.08000000</valUSD>
        <pctVal>0.627686619683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANADOLU CAM SANAYII ANONIM SIRKETI</name>
        <lei>789000UX7BXV6UTDLG71</lei>
        <title>ANADOLU CAM SANAYII AS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TRAANACM91F7"/>
        </identifiers>
        <balance>89760.36200000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="6.84350000"/>
        <valUSD>61108.75000000</valUSD>
        <pctVal>0.724620976138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SL CORPORATION</name>
        <lei>N/A</lei>
        <title>SL CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7005850003"/>
        </identifiers>
        <balance>2525.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>23175.92000000</valUSD>
        <pctVal>0.274817563332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEIDELBERGCEMENT INDIA LIMITED.</name>
        <lei>335800UMJ1FUSA4S5P85</lei>
        <title>HEIDELBERGCEMENT INDIA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE578A01017"/>
        </identifiers>
        <balance>27428.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>64594.46000000</valUSD>
        <pctVal>0.765954149910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MOSKOVSKAYA BIRZHA MMVB-RTS PAO</name>
        <lei>253400M5M1222KPNWE87</lei>
        <title>MOSCOW EXCHANGE MICEX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="RU000A0JR4A1"/>
        </identifiers>
        <balance>24310.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="RUB" exchangeRt="71.14380000"/>
        <valUSD>38793.64000000</valUSD>
        <pctVal>0.460010805077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>RU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA MODERN DAIRY HOLDINGS LTD.</name>
        <lei>549300TAELI2JXTKK009</lei>
        <title>CHINA MODERN DAIRY HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG215791008"/>
        </identifiers>
        <balance>293000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>33074.75000000</valUSD>
        <pctVal>0.392196823377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA LESSO GROUP HOLDINGS LIMITED</name>
        <lei>N/A</lei>
        <title>CHINA LESSO GROUP HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2157Q1029"/>
        </identifiers>
        <balance>56000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>73506.49000000</valUSD>
        <pctVal>0.871632041832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telecom Egypt Company S.A.E.</name>
        <lei>2138002G9HYJY4EDCG86</lei>
        <title>TELECOM EGYPT CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="EGS48031C016"/>
        </identifiers>
        <balance>80279.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.09000000"/>
        <valUSD>66650.84000000</valUSD>
        <pctVal>0.790338482480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA SCE GROUP HOLDINGS LIMITED</name>
        <lei>549300Q8UEI2ERAP6P49</lei>
        <title>CHINA SCE GROUP HLDG LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG211901064"/>
        </identifiers>
        <balance>170000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>74266.48000000</valUSD>
        <pctVal>0.880643921402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILERGY CORP.</name>
        <lei>N/A</lei>
        <title>SILERGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8190F1028"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>65529.40000000</valUSD>
        <pctVal>0.777040567738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEKFEN HOLDING ANONIM SIRKETI</name>
        <lei>N/A</lei>
        <title>TEKFEN HOLDING AS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TRETKHO00012"/>
        </identifiers>
        <balance>16250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="6.84350000"/>
        <valUSD>40352.29000000</valUSD>
        <pctVal>0.478493108912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IPCA LABORATORIES LIMITED</name>
        <lei>33580069PZ8ZQVCDBC38</lei>
        <title>IPCA LABORATORIES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE571A01020"/>
        </identifiers>
        <balance>4338.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>96292.88000000</valUSD>
        <pctVal>1.141830600377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIMICRON TECHNOLOGY CORP.</name>
        <lei>N/A</lei>
        <title>UNIMICRON TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003037008"/>
        </identifiers>
        <balance>46000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>78867.22000000</valUSD>
        <pctVal>0.935199000826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sri Trang Agro-Industry Public Company Limited</name>
        <lei>254900D4NQ5CJSXKLT05</lei>
        <title>SRI TRANG AGRO-INDUSTRY PCL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0254010R11"/>
        </identifiers>
        <balance>57200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.90400000"/>
        <valUSD>50828.16000000</valUSD>
        <pctVal>0.602714847129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="depository receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HWASEUNG ENTERPRISE CO.,LTD</name>
        <lei>N/A</lei>
        <title>HWASEUNG ENTERPRISE CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7241590009"/>
        </identifiers>
        <balance>3311.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>31784.30000000</valUSD>
        <pctVal>0.376894806257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sino-Thai Engineering and Construction Public Company Limited</name>
        <lei>52990031W69XUIL5KM46</lei>
        <title>SINO-THAI ENGINEERING &amp; CONSTRUCTION PCL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0307010R17"/>
        </identifiers>
        <balance>118200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.90400000"/>
        <valUSD>58525.38000000</valUSD>
        <pctVal>0.693987652905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="depository receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qatar Gas Transport Company Limited (Nakilat)QPSC</name>
        <lei>N/A</lei>
        <title>QATAR GAS TRANSPORT(NAKILAT)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="QA000A0KD6L1"/>
        </identifiers>
        <balance>73094.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="QAR" exchangeRt="3.64150000"/>
        <valUSD>52555.77000000</valUSD>
        <pctVal>0.623200660447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>QA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tripod Technology Corporation</name>
        <lei>N/A</lei>
        <title>TRIPOD TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003044004"/>
        </identifiers>
        <balance>22000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>98460.36000000</valUSD>
        <pctVal>1.167532344781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shandong Weigao Group Medical Polymer Company Limited</name>
        <lei>5299005WQUU15JQU8S60</lei>
        <title>SHANDONG WEIGAO GP MEDICAL-H</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000171"/>
        </identifiers>
        <balance>44000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>98247.90000000</valUSD>
        <pctVal>1.165013016983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gunkul Engineering Public Company Limited</name>
        <lei>N/A</lei>
        <title>GUNKUL ENGINEERING PCL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH1041010R11"/>
        </identifiers>
        <balance>499600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.90400000"/>
        <valUSD>42227.63000000</valUSD>
        <pctVal>0.500730688659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="depository receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEPCO Plant Service &amp; Engineering Co., Ltd</name>
        <lei>N/A</lei>
        <title>KEPCO PLANT SERVICE &amp; ENGINEERING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7051600005"/>
        </identifiers>
        <balance>2042.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>49599.15000000</valUSD>
        <pctVal>0.588141378913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NINE DRAGONS PAPER (HOLDINGS) LIMITED</name>
        <lei>529900TBMYEYJ2LEV906</lei>
        <title>NINE DRAGONS PAPER HOLDINGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG653181005"/>
        </identifiers>
        <balance>53000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>48459.07000000</valUSD>
        <pctVal>0.574622433058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sinotruk (Hong Kong) Limited</name>
        <lei>529900BB4WA4W576X724</lei>
        <title>SINOTRUK HONG KONG LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK3808041546"/>
        </identifiers>
        <balance>27500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>71770.00000000</valUSD>
        <pctVal>0.851040930431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALEMBIC PHARMACEUTICALS LIMITED</name>
        <lei>335800PM173KNG818V30</lei>
        <title>ALEMBIC PHARMECEUTICALS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE901L01018"/>
        </identifiers>
        <balance>6300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>76067.71000000</valUSD>
        <pctVal>0.902002712751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bangkok Life Assurance PCL</name>
        <lei>254900S8RTAA59ZF6T09</lei>
        <title>BANGKOK LIFE ASSURANCE-NVDR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH1016010R13"/>
        </identifiers>
        <balance>67700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.90400000"/>
        <valUSD>34185.13000000</valUSD>
        <pctVal>0.405363589830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="depository receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA TIAN LUN GAS HOLDINGS LIMITED</name>
        <lei>529900S7M3E7M2CXPQ78</lei>
        <title>CHINA TIAN LUN GAS HOLDINGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG843961031"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>38448.32000000</valUSD>
        <pctVal>0.455916037708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Cementos de Chihuahua, S.A.B. de C.V.</name>
        <lei>254900WY9XL8033CKX68</lei>
        <title>GRUPO CEMENTOS DE CHIHUAHUA SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01GC2M0006"/>
        </identifiers>
        <balance>20438.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>86006.61000000</valUSD>
        <pctVal>1.019857118540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taidoc Technology Corporation</name>
        <lei>N/A</lei>
        <title>TAIDOC TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0004736004"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>139731.28000000</valUSD>
        <pctVal>1.656918469298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAN LIU ENTERPRISE CO., LTD</name>
        <lei>N/A</lei>
        <title>NAN LIU ENTERPRISE CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006504004"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>53537.73000000</valUSD>
        <pctVal>0.634844636371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parade Technologies Ltd</name>
        <lei>529900D9FDQHQKAQLY02</lei>
        <title>PARADE TECHNOLOGIES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6892A1085"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>100586.39000000</valUSD>
        <pctVal>1.192742579550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAMSUNG ENGINEERING CO.,LTD</name>
        <lei>988400HDAY5KIVHGZ188</lei>
        <title>SAMSUNG ENGINEERING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7028050003"/>
        </identifiers>
        <balance>6318.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>65117.76000000</valUSD>
        <pctVal>0.772159384951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Richter Gedeon Vegyeszeti Gyar Nyilvanosan Mukodo Rt.</name>
        <lei>549300J6ZJW5IH4WEE46</lei>
        <title>RICHTER GEDEON NYRT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HU0000123096"/>
        </identifiers>
        <balance>3104.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HUF" exchangeRt="314.55140000"/>
        <valUSD>64536.66000000</valUSD>
        <pctVal>0.765268763735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANVEST ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED</name>
        <lei>549300Q690U1BR82UX43</lei>
        <title>CANVEST ENVIRONMENTAL PROTECTION GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG183221004"/>
        </identifiers>
        <balance>84000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>36943.71000000</valUSD>
        <pctVal>0.438074534373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DoubleU Games Co Ltd</name>
        <lei>N/A</lei>
        <title>DOUBLEUGAMES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7192080000"/>
        </identifiers>
        <balance>1008.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>67222.05000000</valUSD>
        <pctVal>0.797111829141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERIDA INDUSTRY CO., LTD.</name>
        <lei>N/A</lei>
        <title>MERIDA INDUSTRY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0009914002"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>95735.51000000</valUSD>
        <pctVal>1.135221366945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECO WORLD DEVELOPMENT GROUP BERHAD</name>
        <lei>N/A</lei>
        <title>ECO WORLD DEVELOPMENT GROUP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL8206OO004"/>
        </identifiers>
        <balance>350900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>34375.47000000</valUSD>
        <pctVal>0.407620621050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CI Banco, S.A. Institucion de Banca Multiple, Fideicomiso F/00939</name>
        <lei>N/A</lei>
        <title>PLA ADMINISTRADORA INDUSTRIAL S DE RL DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXCFTE0B0005"/>
        </identifiers>
        <balance>43024.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>50084.29000000</valUSD>
        <pctVal>0.593894116783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credit Agricole Egypt S.A.E</name>
        <lei>549300EP6V6LBXH4SE65</lei>
        <title>CREDIT AGRICOLE EGYPT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="EGS60041C018"/>
        </identifiers>
        <balance>16051.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EGP" exchangeRt="16.09000000"/>
        <valUSD>29639.11000000</valUSD>
        <pctVal>0.351457374272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prologis Property Mexico, S.A de C.V.</name>
        <lei>N/A</lei>
        <title>PROLOGIS PROPERTY MEXICO S.A. DE C.V.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXCFFI170008"/>
        </identifiers>
        <balance>19228.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>34399.22000000</valUSD>
        <pctVal>0.407902245992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEEGENE, INC.</name>
        <lei>N/A</lei>
        <title>SEEGENE INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7096530001"/>
        </identifiers>
        <balance>1861.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>173323.83000000</valUSD>
        <pctVal>2.055255309308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINASOFT INTERNATIONAL LIMITED</name>
        <lei>N/A</lei>
        <title>CHINASOFT INTERNATIONAL LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2110A1114"/>
        </identifiers>
        <balance>88000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>48484.13000000</valUSD>
        <pctVal>0.574919591839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="43327.31000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POYA International Co., Ltd.</name>
        <lei>N/A</lei>
        <title>POYA INTERNATIONAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0005904007"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>59303.58000000</valUSD>
        <pctVal>0.703215464694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNONWEALTH ELECTRIC MACHINE INDUSTRY CO., LTD.</name>
        <lei>N/A</lei>
        <title>SUNONWEALTH ELECTRIC MACHINE INDUSTRY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002421005"/>
        </identifiers>
        <balance>46000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>80638.07000000</valUSD>
        <pctVal>0.956197549407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YiChang HEC ChangJiang Pharmaceutical Co Ltd</name>
        <lei>300300TYUG49W3BJAI83</lei>
        <title>YICHANG HEC CHANGJIANG PAHRMACEUTICAL CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000023R6"/>
        </identifiers>
        <balance>20800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>42692.22000000</valUSD>
        <pctVal>0.506239746843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RADIANT OPTO-ELECTRONICS CORPORATION</name>
        <lei>N/A</lei>
        <title>RADIANT OPTO-ELECTRONICS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006176001"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>60755.43000000</valUSD>
        <pctVal>0.720431345631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINBON ELECTRONICS COMPANY LTD.</name>
        <lei>N/A</lei>
        <title>SINBON ELECTRONICS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003023008"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>101762.77000000</valUSD>
        <pctVal>1.206691966894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TCL ELECTRONICS HOLDINGS LIMITED</name>
        <lei>5299000Y9D001SNNTJ48</lei>
        <title>TCL ELECTRONICS HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8701T1388"/>
        </identifiers>
        <balance>73000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>35933.41000000</valUSD>
        <pctVal>0.426094505781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Afya Ltd</name>
        <lei>54930008Y7J8Z1BSDT57</lei>
        <title>AFYA LTD</title>
        <cusip>G01125106</cusip>
        <identifiers>
          <isin value="KYG011251066"/>
        </identifiers>
        <balance>2467.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57826.48000000</valUSD>
        <pctVal>0.685700171976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="55335.71999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wistron Corporation</name>
        <lei>254900DIEONKUALBFM06</lei>
        <title>WISTRON CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003231007"/>
        </identifiers>
        <balance>41000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>50068.11000000</valUSD>
        <pctVal>0.593702256086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIME DOTCOM BERHAD</name>
        <lei>N/A</lei>
        <title>TIME DOTCOM BERHAD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL5031OO009"/>
        </identifiers>
        <balance>24700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>62836.51000000</valUSD>
        <pctVal>0.745108568140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIDENT LIMITED</name>
        <lei>335800KLFMJJVM3TUK37</lei>
        <title>TRIDENT LTD/INDIA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE064C01022"/>
        </identifiers>
        <balance>554026.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>51070.63000000</valUSD>
        <pctVal>0.605590030275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHIN ZU SHING CO., LTD.</name>
        <lei>N/A</lei>
        <title>SHIN ZU SHING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003376000"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>45799.54000000</valUSD>
        <pctVal>0.543086012747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAELIM INDUSTRIAL CO.,LTD</name>
        <lei>988400LJMYZ3ZOXJVE47</lei>
        <title>DAELIM INDUSTRIAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7000210005"/>
        </identifiers>
        <balance>1013.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>69685.52000000</valUSD>
        <pctVal>0.826323391087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIRLA CORPORATION LIMITED</name>
        <lei>335800FXJEORKO4ZHT12</lei>
        <title>BIRLA CORP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE340A01012"/>
        </identifiers>
        <balance>6154.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>47367.38000000</valUSD>
        <pctVal>0.561677290612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI GLOVIS Co., LTD.</name>
        <lei>988400U6RDXNJ5ZRN304</lei>
        <title>HYUNDAI GLOVIS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7086280005"/>
        </identifiers>
        <balance>426.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>36219.24000000</valUSD>
        <pctVal>0.429483847138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iochpe-Maxion S.A.</name>
        <lei>N/A</lei>
        <title>IOCHPE MAXION SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRMYPKACNOR7"/>
        </identifiers>
        <balance>8100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>20141.25000000</valUSD>
        <pctVal>0.238832773304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCIENTEX BERHAD</name>
        <lei>N/A</lei>
        <title>SCIENTEX BHD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL4731OO005"/>
        </identifiers>
        <balance>18200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>37948.30000000</valUSD>
        <pctVal>0.449986854399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Engineers India Ltd</name>
        <lei>335800D8QCOQANG91D62</lei>
        <title>ENGINEERS INDIA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE510A01028"/>
        </identifiers>
        <balance>25119.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>25096.31000000</valUSD>
        <pctVal>0.297589341128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA RESOURCES CEMENT HOLDINGS LIMITED</name>
        <lei>529900E0EOYXYJ0GHY66</lei>
        <title>CHINA RESOURCES CEMENT HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2113L1068"/>
        </identifiers>
        <balance>58000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>71534.63000000</valUSD>
        <pctVal>0.848249938320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PT Wijaya Karya (Persero) Tbk</name>
        <lei>549300K1GF7D3VC6TZ97</lei>
        <title>WIJAYA KARYA PERSERO TBK PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000107600"/>
        </identifiers>
        <balance>318800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14210.00000000"/>
        <valUSD>27075.56000000</valUSD>
        <pctVal>0.321059074464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yuexiu Transport infrastructure Limited</name>
        <lei>529900M1O3AXRD4IBL13</lei>
        <title>YUEXIU TRANSPORT INFRASTRUCTURE LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG9880L1028"/>
        </identifiers>
        <balance>66000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>46299.54000000</valUSD>
        <pctVal>0.549014958898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PT Media Nusantara Citra Tbk</name>
        <lei>254900Y0ZF75CIA04X94</lei>
        <title>MEDIA NUSANTARA CITRA TBK PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000106206"/>
        </identifiers>
        <balance>642200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14210.00000000"/>
        <valUSD>41125.63000000</valUSD>
        <pctVal>0.487663291344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicony Power Technology Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHICONY POWER TECHNOLOGY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006412000"/>
        </identifiers>
        <balance>34000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>77956.59000000</valUSD>
        <pctVal>0.924400848360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHIPBOND TECHNOLOGY CORPORATION</name>
        <lei>254900AK7VTHB4UYLR40</lei>
        <title>CHIPBOND TECHNOLOGY CORPORATION</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006147002"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>65858.04000000</valUSD>
        <pctVal>0.780937545464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TCS GROUP HOLDING PLC</name>
        <lei>549300XQRN9MR54V1W18</lei>
        <title>TCS GROUP HOLDINGS - GDR REG S</title>
        <cusip>87238U203</cusip>
        <identifiers>
          <isin value="US87238U2033"/>
        </identifiers>
        <balance>2313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46957.81000000</valUSD>
        <pctVal>0.556820653663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>CY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Companhia de Saneamento do Parana - Sanepar</name>
        <lei>N/A</lei>
        <title>CIA DE SANEAMENTO DO PA-UNIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRSAPRCDAM13"/>
        </identifiers>
        <balance>8400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>48680.20000000</valUSD>
        <pctVal>0.577244568783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="units"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PARTRONCO.,LTD</name>
        <lei>N/A</lei>
        <title>PARTRON CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7091700005"/>
        </identifiers>
        <balance>5863.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>43714.47000000</valUSD>
        <pctVal>0.518361477248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Impala Platinum Holdings Limited</name>
        <lei>254900BZFIFB4PD2Z778</lei>
        <title>IMPALA PLATINUM HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000083648"/>
        </identifiers>
        <balance>5357.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.34420000"/>
        <valUSD>36094.33000000</valUSD>
        <pctVal>0.428002677810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VINDA INTERNATIONAL HOLDINGS LIMITED</name>
        <lei>529900NPG649VG0P5U39</lei>
        <title>VINDA INTERNATIONAL HOLDINGS LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9361V1086"/>
        </identifiers>
        <balance>21000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>75439.93000000</valUSD>
        <pctVal>0.894558565122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="53609.47999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMPLO TECHNOLOGY CO RTS</name>
        <lei>N/A</lei>
        <title>SIMPLO TECHNOLOGY CO RTS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="TW000612100R"/>
        </identifiers>
        <balance>241.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHONG HONG CONSTRUCTION CO., LTD.</name>
        <lei>N/A</lei>
        <title>CHONG HONG CONSTRUCTION CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0005534002"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>70885.30000000</valUSD>
        <pctVal>0.840550253112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENEVA S.A</name>
        <lei>549300T1AP7HKCABII19</lei>
        <title>ENEVA SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRENEVACNOR8"/>
        </identifiers>
        <balance>9700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>80244.61000000</valUSD>
        <pctVal>0.951531943102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CESC LTD</name>
        <lei>3358009RW8LFOENISG12</lei>
        <title>CESC LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE486A01013"/>
        </identifiers>
        <balance>5377.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>44321.94000000</valUSD>
        <pctVal>0.525564791084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TERNA ENERGY S.A.</name>
        <lei>5493006164JBW2E60O73</lei>
        <title>TERNA ENERGY SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GRS496003005"/>
        </identifiers>
        <balance>7578.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89015000"/>
        <valUSD>81820.45000000</valUSD>
        <pctVal>0.970218084106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco del Bajio S.A., Institucion de Banca Multiple</name>
        <lei>4469000001BD95FFLY16</lei>
        <title>BANCO DEL BAJIO SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX41BB000000"/>
        </identifiers>
        <balance>23905.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>20327.33000000</valUSD>
        <pctVal>0.241039289903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dongkook Pharmaceutical Co Ltd</name>
        <lei>N/A</lei>
        <title>DONGKOOK PHARMACEUTICAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7086450004"/>
        </identifiers>
        <balance>461.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>46526.81000000</valUSD>
        <pctVal>0.551709902081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qualitas Controladora S.A.B. de C.V.</name>
        <lei>N/A</lei>
        <title>QUALITAS CONTROLADORA SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01Q0000008"/>
        </identifiers>
        <balance>11031.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>43362.46000000</valUSD>
        <pctVal>0.514187380579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MPHASIS LIMITED</name>
        <lei>335800NSYTIQLQKUYP62</lei>
        <title>MPHASIS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE356A01018"/>
        </identifiers>
        <balance>3389.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>39543.03000000</valUSD>
        <pctVal>0.468896990988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KUNG LONG BATTERIES INDUSTRIAL CO., LTD.</name>
        <lei>N/A</lei>
        <title>KUNG LONG BATTERIES INDUSTRIAL CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001537009"/>
        </identifiers>
        <balance>17000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>85615.37000000</valUSD>
        <pctVal>1.015217836756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Duzon Bizon Co Ltd</name>
        <lei>N/A</lei>
        <title>DOUZONE BIZON CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7012510004"/>
        </identifiers>
        <balance>1175.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>100396.81000000</valUSD>
        <pctVal>1.190494560327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELITE MATERIAL CO., LTD.</name>
        <lei>N/A</lei>
        <title>ELITE MATERIAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002383007"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>48997.91000000</valUSD>
        <pctVal>0.581011939746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FULGENT SUN INTERNATIONAL (HOLDING) CO., LTD.</name>
        <lei>N/A</lei>
        <title>FULGENT SUN INTERNATIONAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG368891068"/>
        </identifiers>
        <balance>11000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>39220.64000000</valUSD>
        <pctVal>0.465074125089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOREA PETRO CHEMICAL IND CO.,LTD</name>
        <lei>988400L1F3Y7NBQU7K77</lei>
        <title>KOREA PETRO CHEMICAL IND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7006650006"/>
        </identifiers>
        <balance>281.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>26640.03000000</valUSD>
        <pctVal>0.315894606631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>International Games System Co Ltd</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL GAMES SYSTEM CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003293007"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>75086.59000000</valUSD>
        <pctVal>0.890368697457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEOWIZ</name>
        <lei>N/A</lei>
        <title>NEOWIZ</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7095660007"/>
        </identifiers>
        <balance>2509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>58158.12000000</valUSD>
        <pctVal>0.689632723379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SERBA DINAMIK HOLDINGS BERHAD</name>
        <lei>N/A</lei>
        <title>SERBA DINAMIK HOLDINGS BHD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL5279OO004"/>
        </identifiers>
        <balance>135260.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>52681.10000000</valUSD>
        <pctVal>0.624686810089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA NEW HIGHER EDUCATION GROUP LIMITED</name>
        <lei>549300UQUTN69WGJ7J09</lei>
        <title>CHINA NEW HIGHER EDUCATION GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2163K1076"/>
        </identifiers>
        <balance>113000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>75315.32000000</valUSD>
        <pctVal>0.893080953163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vista Oil &amp; Gas, S.A.B. de C.V.</name>
        <lei>549300UDOHP7958KNS89</lei>
        <title>VISTA OIL &amp; GAS SAB DE CV ADR</title>
        <cusip>92837L109</cusip>
        <identifiers>
          <isin value="US92837L1098"/>
        </identifiers>
        <balance>6262.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19099.10000000</valUSD>
        <pctVal>0.226475070842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESCORTS LIMITED</name>
        <lei>335800FPEJC7WFBUBF07</lei>
        <title>ESCORTS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE042A01014"/>
        </identifiers>
        <balance>5410.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>74546.84000000</valUSD>
        <pctVal>0.883968400087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMPLO TECHNOLOGY CO., LTD.</name>
        <lei>N/A</lei>
        <title>SIMPLO TECHNOLOGY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006121007"/>
        </identifiers>
        <balance>7000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>76392.80000000</valUSD>
        <pctVal>0.905857594959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares MSCI Emerging Markets Small-Cap ETF</name>
        <lei>N/A</lei>
        <title>ISHARES MSCI EMERGING MARKETS SMALL-CAP ETF</title>
        <cusip>464286475</cusip>
        <identifiers>
          <isin value="US4642864759"/>
        </identifiers>
        <balance>4950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193248.00000000</valUSD>
        <pctVal>2.291513971352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ETF"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Omega Geracao S.A.</name>
        <lei>N/A</lei>
        <title>OMEGA GERACAO SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BROMGEACNOR0"/>
        </identifiers>
        <balance>5600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>38849.41000000</valUSD>
        <pctVal>0.460672119731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Play Communications S.A.</name>
        <lei>222100EYB9HNJPI80514</lei>
        <title>PLAY COMMUNICATIONS SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU1642887738"/>
        </identifiers>
        <balance>5008.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="PLN" exchangeRt="3.95410000"/>
        <valUSD>38693.76000000</valUSD>
        <pctVal>0.458826438794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enauta Participacoes SA</name>
        <lei>N/A</lei>
        <title>ENAUTA PARTICIPACOES SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRENATACNOR0"/>
        </identifiers>
        <balance>24300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>46211.65000000</valUSD>
        <pctVal>0.547972768744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUPERMAX CORPORATION BERHAD</name>
        <lei>N/A</lei>
        <title>SUPERMAX CORP BHD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL7106OO007"/>
        </identifiers>
        <balance>95700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>179782.47000000</valUSD>
        <pctVal>2.131841166838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MULTI COMMODITY EXCHANGE OF INDIA LIMITED</name>
        <lei>254900BTZEPM27IOAM68</lei>
        <title>MULTI COMMODITY EXCH INDIA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE745G01035"/>
        </identifiers>
        <balance>2832.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>48218.77000000</valUSD>
        <pctVal>0.571772981538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO DO ESTADO DO RIO GRANDE DO SUL S.A.</name>
        <lei>254900W2BN097WLYIM20</lei>
        <title>BANCO DO ESTADO DO RIO GRANDE DO SUL SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRBRSRACNPB4"/>
        </identifiers>
        <balance>10400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>25917.75000000</valUSD>
        <pctVal>0.307329888180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLEXIUM INTERCONNECT INC</name>
        <lei>213800WXE6VMVZICKA40</lei>
        <title>FLEXIUM INTERCONNECT INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006269004"/>
        </identifiers>
        <balance>11000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>45768.36000000</valUSD>
        <pctVal>0.542716283665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MUTHOOT FINANCE LIMITED</name>
        <lei>335800HAMJMBFL4RRF02</lei>
        <title>MUTHOOT FINANCE LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE414G01012"/>
        </identifiers>
        <balance>6367.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>91686.30000000</valUSD>
        <pctVal>1.087206270862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA WATER AFFAIRS GROUP LIMITED</name>
        <lei>529900XTSVH0DH4CEX74</lei>
        <title>CHINA WATER AFFAIRS GROUP LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG210901242"/>
        </identifiers>
        <balance>52000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>37616.25000000</valUSD>
        <pctVal>0.446049441261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="31389.98999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA OVERSEAS GRAND OCEANS GROUP LIMITED</name>
        <lei>N/A</lei>
        <title>CHINA OVERSEAS GRAND OCEANS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000065737"/>
        </identifiers>
        <balance>83000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>47302.47000000</valUSD>
        <pctVal>0.560907594823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Home Shopping Inc.</name>
        <lei>N/A</lei>
        <title>GS HOME SHOPPING INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7028150001"/>
        </identifiers>
        <balance>290.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>26466.35000000</valUSD>
        <pctVal>0.313835127896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RESILIENT REIT LIMITED</name>
        <lei>378900F37FF47D486C58</lei>
        <title>RESILIENT REIT LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000209557"/>
        </identifiers>
        <balance>15448.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.34420000"/>
        <valUSD>38586.32000000</valUSD>
        <pctVal>0.457552426845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>V.S. INDUSTRY BERHAD</name>
        <lei>N/A</lei>
        <title>V.S. INDUSTRY BERHAD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MYL6963OO002"/>
        </identifiers>
        <balance>199400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.28250000"/>
        <valUSD>45709.67000000</valUSD>
        <pctVal>0.542020343966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRANULES INDIA LIMITED</name>
        <lei>335800HJF1KE335ASX37</lei>
        <title>GRANULES INDIA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE101D01020"/>
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        <balance>43101.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>115505.14000000</valUSD>
        <pctVal>1.369647510313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIANNENG POWER INTERNATIONAL LIMITED</name>
        <lei>N/A</lei>
        <title>TIANNENG POWER INTL LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8655K1094"/>
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        <balance>34000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>58311.10000000</valUSD>
        <pctVal>0.691446743743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="52115.38000000"/>
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      <invstOrSec>
        <name>POWER FINANCE CORPORATION LIMITED</name>
        <lei>3358003Q6D9LIJJZ1614</lei>
        <title>POWER FINANCE CORP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE134E01011"/>
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        <balance>40835.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>45499.00000000</valUSD>
        <pctVal>0.539522241795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Centro Norte S.A.B. de C.V.</name>
        <lei>529900HUSBARAFSXJ605</lei>
        <title>GRUPO AEROPORTUARIO DEL CENT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01OM000018"/>
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        <balance>11830.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>55008.05000000</valUSD>
        <pctVal>0.652279532579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Times Neighborhood Holdings Ltd</name>
        <lei>N/A</lei>
        <title>TIMES NEIGHBORHOOD HLDGS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8903A1013"/>
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        <balance>34798.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>47579.60000000</valUSD>
        <pctVal>0.564193772516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TUPY S.A.</name>
        <lei>254900YH8MOZMIBO3R79</lei>
        <title>TUPY SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRTUPYACNOR1"/>
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        <balance>13400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>47072.02000000</valUSD>
        <pctVal>0.558174943542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Construtora Tenda S/A</name>
        <lei>N/A</lei>
        <title>CONSTRUTORA TENDA SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRTENDACNOR4"/>
        </identifiers>
        <balance>16000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>91252.85000000</valUSD>
        <pctVal>1.082066467444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KAVERI SEED COMPANY LTD.</name>
        <lei>N/A</lei>
        <title>KAVERI SEED CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE455I01029"/>
        </identifiers>
        <balance>9159.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>69899.65000000</valUSD>
        <pctVal>0.828862521566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POWERTECH TECHNOLOGY INC.</name>
        <lei>254900O6KNZXH2RI9Q14</lei>
        <title>POWERTECH TECHNOLOGY INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006239007"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>43817.67000000</valUSD>
        <pctVal>0.519585211733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIWOOM Securities Co.,Ltd.</name>
        <lei>988400O27CNGJA2QWJ18</lei>
        <title>KIWOOM SECURITIES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7039490008"/>
        </identifiers>
        <balance>837.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>61196.85000000</valUSD>
        <pctVal>0.725665656450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HINDUSTAN PETROLEUM CORPORATION LIMITED</name>
        <lei>335800DWLXIP7HFFY564</lei>
        <title>HINDUSTAN PETROLEUM CORP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE094A01015"/>
        </identifiers>
        <balance>15288.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>44007.53000000</valUSD>
        <pctVal>0.521836551165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Netdragon Websoft Holdings Ltd</name>
        <lei>549300OAYL2PBUPUBR89</lei>
        <title>NETDRAGON WEBSOFT HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG6427W1042"/>
        </identifiers>
        <balance>22500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>63449.28000000</valUSD>
        <pctVal>0.752374728805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>King's Town Bank Co., Ltd</name>
        <lei>549300WWWDUONZNJTT60</lei>
        <title>KING'S TOWN BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002809001"/>
        </identifiers>
        <balance>51000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="29.49500000"/>
        <valUSD>62254.01000000</valUSD>
        <pctVal>0.738201345875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Crompton Greaves Consumer Electricals Ltd</name>
        <lei>335800DIIEEWMH3UDH51</lei>
        <title>CROMPTON GREAVES CONSUMER EL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE299U01018"/>
        </identifiers>
        <balance>10947.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="75.49870000"/>
        <valUSD>34627.13000000</valUSD>
        <pctVal>0.410604778227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LA COMER, S.A.B. DE C.V.</name>
        <lei>N/A</lei>
        <title>LA COMER SAB DE CV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX01LA050010"/>
        </identifiers>
        <balance>47546.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="22.97910000"/>
        <valUSD>66231.81000000</valUSD>
        <pctVal>0.785369669869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dogus Otomotiv Servis ve Ticaret AS</name>
        <lei>789000PVDP82LTUNS694</lei>
        <title>DOGUS OTOMOTIV SERVIS VE TIC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TREDOTO00013"/>
        </identifiers>
        <balance>34985.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TRY" exchangeRt="6.84350000"/>
        <valUSD>79945.52000000</valUSD>
        <pctVal>0.947985366094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE UNITED LABORATORIES INTERNATIONAL HOLDINGS LIMITED</name>
        <lei>2549007JL3XIH77JXN70</lei>
        <title>UNITED LABORATORIES INTERNATIONAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8813K1085"/>
        </identifiers>
        <balance>44000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
        <valUSD>38105.59000000</valUSD>
        <pctVal>0.451851982279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXXARO RESOURCES LIMITED</name>
        <lei>378900BC3D9BFF4E4A37</lei>
        <title>EXXARO RESOURCES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000084992"/>
        </identifiers>
        <balance>6266.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="17.34420000"/>
        <valUSD>47318.55000000</valUSD>
        <pctVal>0.561098269731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Notre Dame Intermedica Participacoes S.A.</name>
        <lei>N/A</lei>
        <title>NOTRE DAME INTERMEDICA PARTICIPACOES SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRGNDIACNOR2"/>
        </identifiers>
        <balance>3100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="5.43720000"/>
        <valUSD>38775.66000000</valUSD>
        <pctVal>0.459797600173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WNS (HOLDINGS) LIMITED</name>
        <lei>529900RM7QHUD3W9DM42</lei>
        <title>WNS HOLDINGS LTD</title>
        <cusip>92932M101</cusip>
        <identifiers>
          <isin value="US92932M1018"/>
        </identifiers>
        <balance>896.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49262.08000000</valUSD>
        <pctVal>0.584144439155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NHN KCP Corp.</name>
        <lei>N/A</lei>
        <title>NHN KCP CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7060250008"/>
        </identifiers>
        <balance>2388.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1202.80000000"/>
        <valUSD>98582.03000000</valUSD>
        <pctVal>1.168975094537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POLYMETAL INTERNATIONAL PLC</name>
        <lei>213800JKJ5HJWYS4GR61</lei>
        <title>POLYMETAL INTERNATIONAL PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JE00B6T5S470"/>
        </identifiers>
        <balance>3342.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.80717000"/>
        <valUSD>66898.34000000</valUSD>
        <pctVal>0.793273310824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN PRIME MONEY MARKET FUND</name>
        <lei>N/A</lei>
        <title>JPMorgan Prime Money Market Fund - CJPXX 1.67% 1/31/2020 - Extendable</title>
        <cusip>4812A0367</cusip>
        <identifiers>
          <ticker value="CJPXX"/>
        </identifiers>
        <balance>16440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16440.23999998</valUSD>
        <pctVal>0.194946595319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="16440.23999998" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS FINANCIAL SQUARE PRIME OBLIGATIONS FUND</name>
        <lei>N/A</lei>
        <title>Goldman Sachs Financial Sq Prime Obligations- FPOXX Victory 1.62% 2/28/2018 - Extendable</title>
        <cusip>38141W364</cusip>
        <identifiers>
          <ticker value="FPOXX"/>
        </identifiers>
        <balance>28730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28730.21999999</valUSD>
        <pctVal>0.340679854539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="28730.21999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK LIQUIDITY FUNDS TEMPFUND PORTFOLIO</name>
        <lei>N/A</lei>
        <title>Blackrock Liquidity Funds Temp Fund Portfolio - TMPXX 1.67% 1/30/2020 - Extendable</title>
        <cusip>09248U619</cusip>
        <identifiers>
          <ticker value="TMPXX"/>
        </identifiers>
        <balance>4131.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4131.47000000</valUSD>
        <pctVal>0.048990526304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="4131.47000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS - PRIME PORTFOL</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Institutional Liquidity Fund - MPFXX 2.0073% 6/18/2018 - Extendable</title>
        <cusip>61747C715</cusip>
        <identifiers>
          <ticker value="MPFXX"/>
        </identifiers>
        <balance>73919.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73918.55999999</valUSD>
        <pctVal>0.876518323512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="73918.55999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIDELITY GOVERNMENT PORTFOLIO</name>
        <lei>N/A</lei>
        <title>FIDELITY GOVERNMENT PORTFOLIO FRGXX 1.51% 2/11/2020 - Extendable</title>
        <cusip>1849969A6</cusip>
        <identifiers>
          <ticker value="FRGXX"/>
        </identifiers>
        <balance>125042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125041.96999999</valUSD>
        <pctVal>1.482734213344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="125041.96999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly total returns reported under item B.5.a do not include any sales or redemption charges, as applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios</ncom:nameOfApplicant>
      <ncom:signature>Allan Shaer</ncom:signature>
      <ncom:signerName>Allan Shaer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
